Answer: the firm will have a temporary competitive advantage
Explanation: The firm in question would have a temporary competitive advantage. Competitive advantage describes something that places a company or business or a person above the competition such as value, rarity, difficult/costly-to-imitate amongst others. However, where a substitute is already in existence for such service, then the firm would have a temporary competitive advantage.
Explanation:
The income returned by an investment is revenue.
Total income or cash flow minus expenditures is profit.
Hope it will help :)
Munsterberg suggest that psychologists could contribute to industry in the ways as listed below:
- Identifying people suitable for a specific job
- Identifying the psychological conditions that will bring out the best from a worker
- identifying optimum management strategies that will unite the employees to the organization's goal
<h3>Who is a psychologist?</h3>
A psychologist refers to an expert in psychology where psychology studies the mental health. This discipline deals greatly in how human behaves and the reason for such behavior.
Psychologists play a greater impact in making people act in a certain way since they can guess intelligently on the expected behavior of an individual under a given circumstance. This abilities of psychologists enabled Munsterberg to make the suggestions listed
Read more on psychology here: brainly.com/question/12011520
#SPJ1
Systems thinking corresponds to the view that an organization is a complex system where each department is integrated to achieve the same objectives and goals established by strategic planning.
<h3 /><h3>The four main components of systems thinking</h3>
It is an approach whose ideas base systems thinking on the four components, which are:
- Making distinctions
- Organizing systems
- Recognizing relationships
- Taking multiple perspectives
Therefore, through the four components of systems thinking, management can be carried out more effectively, focusing on the organizational structure according to a more comprehensive and interconnected view.
A manager with a systemic view will base his administration on the continuous improvement of each organizational system for the process to flow effectively.
Find out more information about organizational systems here:
brainly.com/question/1288780
A company selling goods subtract cost of goods sold from sales to determine gross profit.
Cost of goods sold has to do with the costs of manufacturing a products such as:
In order for a company to know or determine their gross profit for a particular period they will have to deduct their sales from the cost of goods sold.
The formula to determine gross profit is:
Gross profit=Sales -Cost of good sold
Inconclusion a company selling goods subtract cost of goods sold from sales to determine gross profit.
Learn more about cost of goods sold here: <em>brainly.com/question/14866200</em>